Petrobras joins climate initiative

Petrobras’ board has approved the company’s participation in the Oil and Gas Climate Initiative, designed to reduce and capture greenhouse gas emissions.

Offshore staff

RIO DE JANEIRO – Petrobras’ board has approved the company’s participation in the Oil and Gas Climate Initiative (OGCI), designed to reduce and capture greenhouse gas emissions.

Ten major oil and gas companies, responsible for more than 25% of global production, are now involved in the initiative. The other nine are BP, CNPC, Eni, PEMEX, Repsol, Saudi Aramco, Shell, Statoil and Total.

OGCI Climate Investments plans to allocate $1 billion over the next decade to support the development, deployment and expansion of low-emission technologies.

Petrobras said its decision to join was in line with 2018-2022 Business and Management Plan, to prepare for a low carbon-based economy.

03/29/2018

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